Deutsche Bank CEO suggests robots could replace half the company’s 97,000 employees

via CNBC –   | @AbigailJHess      Some very smart people say that robots are going to steal your job.

Researchers at Oxford University estimate that 47 percent of U.S. jobs could be replaced by robots, automated technology and automated intelligence (AI) within the next 20 years. Jeff Hesse, PwC principal and U.S. people and organization co-leader, tells CNBC Make It, “The displacement is already beginning to happen.”

Elon Musk told the National Governors Association, “There certainly will be job disruption. Because what’s going to happen is robots will be able to do everything better than us.” Musk even went so far as to say that “AI is a fundamental risk to the existence of human civilization.”

John Cryan, the millionaire CEO of Deutsche Bank, is the latest industry leader to suggest that technology will lead to significant layoffs — and possibly sooner than we think.

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Deutsche Bank: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

Deutsche: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

Two weeks after Aleksandar Kocic highlighted the moment in 2012 when the market stopped caring about newsflow and reality, and, in a word “broke” with pervasive complacency setting in regardless of macro uncertainty…

… Deutsche Bank’s post modernist master of stream-of-consciousness narrative is back with a new essay dissecting his favorite topic, the interplay between the Fed and markets, the so-called “umbilical limbo” that connects the two in the form of ultraeasy monetary policy and QE in general, and more importantly, the narrative that the Fed has spun over the past ten years, which while supportive of risk assets, has concurrently resulted in what Kocic calls a “permanent state of exception” from normalcy as a result of the Fed decision to defer the financial crisis indefinitely.

Continue reading Deutsche Bank: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

The AI Revolution Won’t Stay in Los Vegas- New Bar “The Tipsy Robot” Replaces Bartenders with Digital Machines

By: belisoful© 2017.06. 29 (Los Vegas, North America)-  A new Robotic bar has been developed in Los Vegas, Nevada called “The Tipsy Robot.”  The bartender is a robot and makes the perfect drink and nearly identical drinks each time.  This Robotic Bartender doesn’t take tips nor gives any advise/crack-ups.  Wages?  Forget it.

The development fees were probably relatively high for a restaurant but the long term costs would be minimized.  The novelty and first mover advantage is perceived as profitable.  The Robotic take-over of service jobs has begun.  This AI Robotic Revolution won’t stay in Los Vegas.  Indeed, McDonalds is replacing 2,500 workers with kiosks and Walmart is cutting 7,000 due to robotic automation.

The jobs left for humans are getting cleared out.  This is reason alone for “Universal Guaranteed Basic Income” for all “human Persons.”  The United States has required Universal Basic Income since 1938.  Canada is putting Universal Basic Income to the test. The need for such measures was never so pressing, as the world falls further into unrecoverable debt.  The Debt Bubble is the greatest bubble ever designed by International Bankers.

Continue reading The AI Revolution Won’t Stay in Los Vegas- New Bar “The Tipsy Robot” Replaces Bartenders with Digital Machines